Australia's 40 Richest

#29 Clive Palmer

02.01.12, 06:00 PM EST

A larger-than-life character who's often dismissed as all smoke and mirrors, he's back on the list after a one-year absence—"thanks to rising values as coal and iron ore assets are bought and sold around the country.

A larger-than-life character who's often dismissed as all smoke and mirrors, he's back on the list after a one-year absence—"thanks to rising values as coal and iron ore assets are bought and sold around the country. That hasn't yet helped the deal that could make him a multibillionaire: raising $3.6 billion by floating a fistful of undeveloped coal and iron ore assets. Plans for an IPO in Hong Kong were delayed in June for the fourth time when investors shunned the offering.